MIRA INFORM REPORT

Report No. :	332154
Report Date :	13.07.2015

IDENTIFICATION DETAILS

Name :	L.S. MILLS LIMITED (w.e.f. 01.07.1992)
Formerly Known As :	L.S. MILLS PRIVATE LIMITED
Registered Office :	L.S. Mills Premises, P.O. Box No.12, Madurai Road, Theni – 625 531, Tamilnadu
Tel. No.:	91-4546-325001-05
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.04.1983
Com. Reg. No.:	18-009973
Capital Investment / Paid-up Capital :	Rs.263.210 million
CIN No.: [Company Identification No.]	U17111TN1983PLC009973
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MRIL00200E
PAN No.: [Permanent Account No.]	AAACL3081D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Cotton Yarn, Fabrics and Home Furnishing Products.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2215000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was established in the year 1983 and it is a manufacturer of cotton yarn, fabrics and home furnishing products. It is an established company having satisfactory track record. For the financial year ended 2014, company has reported healthy operational growth and achieved sales turnover growth of 25.63%. Further it has also maintained profitability margins at 3.16%. Rating takes into consideration company’s improved financial risk profile along with improvement in debt coverage indicators and sound gap between trade receivables to its payables. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long Term Loans: BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	June 2015

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Rajesh
Designation :	Office Executive
Contact No.:	91-4546-325001

LOCATIONS

Registered Office/ Factory :	L.S. Mills Premises, P.O. Box No.12, Madurai Road, Theni – 625 531, Tamilnadu, India
Tel. No.:	91-4546-325001-05
Mobile No.:	91-9842152741 (Mr. Narayanaswami)
Fax No.:	91-4546-252742
E-Mail :	info@lsmills.com
Website :	www.lsmills.com
Location :	Owned
Locality :	Commercial

DIRECTORS

AS ON 30.06.2014

Name :

Mr. Lakshmipathy Naicker Sundararajan Manivannan

Designation :

Managing Director

Address :

15, NRT Road, NRT Nagar, Theni – 625 531, Tamilnadu, India

Date of Birth/Age :

16.05.1962

Qualification :

M.A.

Date of Appointment :

07.07.2012

DIN No.:

01028324

PAN No.:

AEMPM5436N

Election Commission Identity Card No.:

CRN1498492

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17111TN1983PLC009973	L.S. MILLS LIMITED	Managing director	07/07/2012	07/07/2006	-	Active	NO

Name :

Mr. Lakshmipathy Naicker Sundararajan Prabhaakaran

Designation :

Whole Time Director

Address :

15, NRT Road, NRT Nagar, Theni – 625 531, Tamilnadu, India

Date of Birth/Age :

16.12.1965

Qualification :

B.Com

Date of Appointment :

18.03.2013

DIN No.:

01028390

PAN No.:

AFJPP5978G

Election Commission Identity Card No.:

CRN1498500

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17111TN1983PLC009973	L.S. MILLS LIMITED	Whole-time director	18/03/2013	18/03/2005	-	Active	NO

Name :

Mrs. Shanthi Manivannan

Designation :

Whole Time Director

Address :

15, NRT Road, NRT Nagar, Theni – 625 531, Tamilnadu, India

Date of Birth/Age :

18.06.1963

Qualification :

B.A.

Date of Appointment :

18.03.2013

DIN No.:

02817481

PAN No.:

AFHPM5586R

Election Commission Identity Card No.:

CRN1498518

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17111TN1983PLC009973	L.S. MILLS LIMITED	Whole-time director	18/03/2013	18/03/2007	-	Active	NO

Name :

Mrs. Prabhakaran Usha Devi

Designation :

Whole Time Director

Address :

15, NRT Road, NRT Nagar, Theni – 625 531, Tamilnadu, India

Date of Birth/Age :

21.07.1965

Qualification :

B.A.

Date of Appointment :

07.07.2012

DIN No.:

02777916

PAN No.:

AABPU1463G

Election Commission Identity Card No.:

CRN1498526

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17111TN1983PLC009973	L.S. MILLS LIMITED	Whole-time director	07/07/2012	27/01/2003	-	Active	NO

Name :

Mrs. Manivannan Aishwarya Devi

Designation :

Director

Address :

15, NRT Road, NRT Nagar, Theni – 625 531, Tamilnadu, India

Date of Birth/Age :

16.05.1962

Date of Appointment :

03.12.2008

DIN No.:

02463799

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17111TN1983PLC009973	L.S. MILLS LIMITED	Director	03-12-2008	03-12-2008	-	Active	NO
2	U51102TN1981PLC008702	SRI JAYAJOTHI AND COMPANY LIMITED	Director	12-03-2014	12-03-2014	-	Active	NO

Name :

Mr. Prabhakaran Harshavardhana

Designation :

Director

Address :

15, NRT Road, NRT Nagar, Theni – 625 531, Tamilnadu, India

Date of Birth/Age :

06.10.1990

Date of Appointment :

03.12.2008

DIN No.:

02463851

KEY EXECUTIVES

Name :	Mr. Rajesh
Designation :	Office Executive
Name :	Mr. Narayanaswami
Designation :	General Manager

MAJOR SHAREHOLDERS

AS ON 30.06.2014

Names of Shareholders	No. of Shares	Percentage of holding
Sundararajan Manivannan	8771601	33.33
Lakshmipathy Naicker Sundararajan Prabhaakaran	8913560	33.86
Shanthi Manivannan	4330306	16.45
Prabhakaran Usha Devi	4246800	16.13
Manivannan Aishwarya Devi	58733	0.23
Total	26321000	100.00

AS ON 30.06.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cotton Yarn, Fabrics and Home Furnishing Products.

Products :

Products Description	Item Code No.
Cotton Yarn	5205
Fabrics	5207
Bed Linen	6302

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash, Cheque and Credit (60/ 90 days)

Purchasing :

Cash, Cheque and Credit (60/ 90 days)

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Retailers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Theni Branch, No.285, Periyakulam Road, Theni – 625 531, Tamilnadu, India
Person Name (With Designation)	Not Divulged
Contact Number	91-4546-252137/ 252561 (not working)
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Banker Name	IDBI Bank Limited
Branch Address	LIC Building, First Floor, No.3, West Marret Street, Madurai – 625 001, Tamilnadu, India
Person Name (With Designation)	Not Divulged
Contact Number	91-452-6463418
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Tamilnad Mercantile Bank Limited, No.630, First Floor, Nehruji Road, Theni, Theni – 625 531, Tamilnadu, India

Facilities :

Secured Loans	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	936.799	1168.584
Foreign currency term loans from banks	227.226	244.596
Rupee term loans from others	0.141	0.330
SHORT-TERM BORROWINGS
Working capital loans from banks	733.025	570.666
Total	1897.191	1984.176

Banking Relations :	--
Financial Institution :	Sundaram Finance Limited, 21, Patullos Road, Chennai – 600 002, Tamilnadu, India
Auditors :
Name :	Mr. G. Jeyaraman Chartered Accountant
Address :	No.5-A, Gowshika Mansion, North Gate, S.S. Colony, Madurai – 625 010, Tamilnadu, India
PAN No.:	AAWPJ2929D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.06.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
27000000	Equity Shares	Rs.10/- each	Rs.270.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
26321000	Equity Shares	Rs.10/- each	Rs.263.210 million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	263.210	263.210	263.210
(b) Reserves & Surplus	511.897	343.363	237.162
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	775.107	606.573	500.372
(3) Non-Current Liabilities
(a) Long-term borrowings	1164.166	1413.510	1706.673
(b) Deferred tax liabilities (Net)	296.147	230.091	144.458
(c) Other long term liabilities	49.300	49.300	30.438
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1509.613	1692.901	1881.569
(4) Current Liabilities
(a) Short term borrowings	782.069	607.432	378.422
(b) Trade payables	526.721	370.302	277.231
(c) Other current liabilities	170.015	113.214	90.166
(d) Short-term provisions	112.115	79.919	11.412
Total Current Liabilities (4)	1590.920	1170.867	757.231
TOTAL	3875.640	3470.341	3139.172
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1812.784	1909.803	2048.026
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	5.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1812.784	1909.803	2053.026
(2) Current assets
(a) Current investments	0.330	0.284	0.284
(b) Inventories	1019.173	779.072	472.581
(c) Trade receivables	636.925	472.283	441.197
(d) Cash and cash equivalents	94.778	52.560	57.547
(e) Short-term loans and advances	193.176	135.089	54.643
(f) Other current assets	118.474	121.250	59.894
Total Current Assets	2062.856	1560.538	1086.146
TOTAL	3875.640	3470.341	3139.172

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	5335.182	4246.638	3025.020
		Other Income	179.536	101.563	55.045
		TOTAL (A)	5514.718	4348.201	3080.065
Less	EXPENSES
		Cost of materials consumed	916.008	896.228	905.603
		Purchases of stock-in-trade	2176.856	1566.646	957.553
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(68.700)	(13.215)	8.519
		Employee benefit expense	250.073	189.623	146.274
		Other expenses	1596.461	1148.912	773.702
		TOTAL (B)	4870.698	3788.194	2791.651
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		644.020	560.007	288.414
Less	FINANCIAL EXPENSES (D)		186.167	166.583	159.376
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		457.853	393.424	129.038
Less/ Add	DEPRECIATION/ AMORTISATION (F)		155.689	151.572	151.736
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		302.164	241.852	(22.698)
Less	TAX (H)		133.630	135.651	(12.481)
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		168.534	106.201	(10.217)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1886.943	1102.076	718.775
	TOTAL EARNINGS		1886.943	1102.076	718.775
	Earnings / (Loss) Per Share (Rs.)		6.40	4.03	(0.39)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Net cash flows from (used in) operations	429.338	270.253	435.028

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.16	2.50	(0.34)
Operating Profit Margin (PBIDT/Sales)	(%)	12.07	13.19	9.53
Return on Total Assets (PBT/Total Assets}	(%)	7.80	6.97	(0.72)
Return on Investment (ROI) (PBT/Networth)		0.39	0.40	(0.05)
Debt Equity Ratio (Total Debt /Networth)		2.51	3.33	4.17
Current Ratio (Current Asset/Current Liability)		1.30	1.33	1.43

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. in Million)	(Rs. in Million)	(Rs. in Million)
Share Capital	263.210	263.210	263.210
Reserves & Surplus	237.162	343.363	511.897
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	500.372	606.573	775.107
Long Term borrowings	1706.673	1413.510	1164.166
Short Term borrowings	378.422	607.432	782.069
Total borrowings	2085.095	2020.942	1946.235
Debt/Equity ratio	4.167	3.332	2.511

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. in Million)	(Rs. in Million)	(Rs. in Million)
Revenue from Operations	3025.020	4246.638	5335.182
		40.384	25.633

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. in Million)	(Rs. in Million)	(Rs. in Million)
Revenue from Operations	3025.020	4246.638	5335.182
Profit	(10.217)	106.201	168.534
	(0.34%)	2.50%	3.16%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity-Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT-TERM BORROWINGS
Deposits from others	49.044	36.766
Total	49.044	36.766

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10535012	12/11/2014	350,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	NO.630, FIRST FLOOR, NEHRUJI ROAD, THENI, THENI, TAMILNADU - 625531, INDIA	C36025625
2	10461679	30/10/2014 *	200,000,000.00	IDBI BANK LIMITED	LIC BUILDING, FIRST FLOOR, NO. 3, WEST MARRET STREET, MADURAI, TAMILNADU - 625001, INDIA	C30994511
3	10408467	26/02/2013	100,000,000.00	UNION BANK OF INDIA	MADURAI MAIN BRANCH, ROSARY BUILDING, TOWN HALL ROAD, MADURAI, TAMILNADU - 625001, INDIA	B69710531
4	10240458	16/03/2011 *	2,885,700,000.00	STATE BANK OF INDIA	THENI BRANCH, 285, PERIYAKULAM ROAD, THENI, TAMILNADU - 625531, INDIA	B11962925
5	10219460	22/04/2010	23,100,000.00	TAMILNAD MERCANTILE BANK LIMITED	57,VICTORIA EXTENSION ROAD, THOOTHUKUDI, TAMILNADU - 628002, INDIA	A86137361
6	10149740	20/01/2010 *	49,000,000.00	ICICI BANK LIMITED	1090, CHERAN PLAZA, TRICHY ROAD, COIMBATORE, TAMI  L NADU - 641018, INDIA	A79784161
7	10082734	19/12/2008 *	180,000,000.00	IDBI BANK LIMITED	1/1, KARTHICK RAJA COMPLEX, VINAYAGA NAGAR, MELUR ROAD, K.K. NAGAR, MADURAI, TAMILNADU - 625020, INDIA	A52893799
8	10071119	17/09/2007	100,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	A24355539
9	10065165	20/08/2007	60,000,000.00	AXIS BANK LIMITED	1095, AVINASHI ROAD, PAPPANAICKENPALAYAM, COIMBATORE, TAMILNADU - 641037, INDIA	A21610365
10	10046808	20/04/2010 *	165,400,000.00	TAMILNAD MERCANTILE BANK LIMITED	57,VICTORIA EXTENSION ROAD, THOOTHUKUDI, TAMILNADU - 628002, INDIA	A86139078
11	10040307	06/06/2007 *	300,000,000.00	UTI BANK LIMITED	1095, AVANASHI ROAD, PAPPANAICKENPALAYAM, COIMBATORE, TAMILNADU - 641037, INDIA	A16870115
12	10012141	21/07/2006	92,000,000.00	STANDARD CHARTERED BANK	19 RAJAJI SALAI, CHENNAI, CHENNAI, TAMILNADU - 600001, INDIA	A03060712
13	80040404	20/04/2010 *	89,235,000.00	TAMILNAD MERCANTILE BANK LIMITED	57, VICTORIA EXTENSION ROAD, THOOTHUKUDI, TAMINADU - 628002, INDIA	A86138385
14	80009762	06/08/2006 *	179,000,000.00	INDIAN OVERSEAS BANK	THENI ALLINAGARAM BRANCH, MADURAI ROAD, THENI, TAMILNADU - 625531, INDIA	A03529484
15	80040405	21/04/2006	200,000,000.00	THE KARUR VYSYA BANK LIMITED	MADURAI ROAD, THENI, THENI, TAMILNADU - 625531, INDIA	-
16	90290810	20/10/2014 *	1,854,500,000.00	STATE BANK OF INDIA	THENI BRANCH,, NO.285, PERIYAKULAM ROAD, THENI,  TAMILNADU - 625531, INDIA	C37035466
17	90288382	09/11/2005 *	4,356,000.00	STATE BANK OF INDIA	PERIYAKULAM ROAD, THENI, TAMILNADU - 625531, INDIA	-
18	80023245	17/03/2007 *	490,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	A13601323

* Date of charge modification

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Livestock

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.38
UK Pound	1	Rs.97.65
Euro	1	Rs.70.43

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	KAR
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.